We are awaiting a big report tomorrow that should tell us if farmers planted more soybeans than corn this year.
The USDA’s Prospective Planting Report, filed in late March, sent shockwaves through the markets. It showed farmers would only plant 89.5 million acres of corn when they were expecting 92 million. Still, experts know there are a lot of variables.
“There’s a lot of speculation out there about what those acreage levels are going to look like.”
If the report holds true, this will be only the third time the U.S. has planted more soybeans than corn.
Related:
Experts warn the level of uncertainty ahead of this year’s acreage report is unprecedented
USDA: Prospective Planting Report is not final word on acreage
Farmers might get more profit from corn than soybeans this year
Input prices could cause crop acres to move from corn to soybeans
